India to stand by Egypt during crucial phase: Envoy

India has extended its support to Egypt as the Arab nation goes through a crucial phase in its history and hailed the progress on trade and commerce with its seventh-largest trading partner.
"India supports Egypt during this important phase of its history," Indian Ambassador to Egypt Navdeep Suri said when he called on Egyptian Prime Minister Hazem el-Beblawy here yesterday, official MENA news agency reported.
Suri praised the positive developments on the economic and commercial fronts between the two countries.
The Indian envoy said India is Egypt's seventh-largest trade partner and the second-biggest market for Egyptian exports,
Bilateral trade between India and Egypt during 2011-12 has grown at an impressive rate of 33 per cent. The total trade has increased from USD 3.17 billion in 2010-11 to USD 4.34 billion in 2011-12.

Compared to FY 2010-11, Indian exports increased by 29.36 per cent in FY 2011-12, whereas Indian imports increased by more than 36 per cent.

More than 50 Indian companies are investing in Egypt in several domains, including the petrochemical, clothing and plastic ones, in many cities such as Alexandria, Ismailia and Port Said, he said.
The Prime Minister also discussed with Suri means to further economic and trade cooperation.
Egypt has been gripped by political turmoil since the overthrow of long-time ruler Hosni Mubarak during the Egyptian Revolution of 2011 and later under its first democratically elected President Mohammed Morsi of the Muslim Brotherhood.

Morsi's term was plagued by political uncertainty and violence in a deeply polarised country that ultimately led to his ouster by the powerful military on July 3 following mass protests against his rule.